Chapter 13 Bankruptcy

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Chapter 13 Bankruptcy - Expert Advice

With Melanie G. Hinson LLC, you’ll receive excellent customer service coupled with chapter 13 bankruptcy expertise. Chapter 13 bankruptcy could be a perfect resolution for you, but that’s where my expertise comes in. I’ll sit down with you, assess your circumstances and offer you advice as to which direction I think you should go.

As a recognized chapter 13 bankruptcy attorney in Daphne, AL, I am an expert in my field. With this type of bankruptcy, you are restructuring your debt in order to repay your creditors over a long period. Depending on the type of debt, you will repay it in full or at a reduced amount, which is negotiated during the process.

There are many things to know about chapter 13 bankruptcy, and as your trusted advisor, I’ll guide you through each step, but a few include:

• Debt to Income Assessment - If the court deems your income too low or your debt too high, you may not qualify for this type of bankruptcy. Essentially, they need to make sure that you’ll be able to repay the creditors and that this time spent restructuring the debt is worthwhile.

• Emotional Relief - Knowing that you will have an extension on the repayment period for your debts will lift a huge weight off your shoulders. And you can also take pride knowing that you will repay your debts, as opposed to eliminating them as with chapter 7.

• Secure vs. Unsecure - There are priority debts such as child support and alimony that are priority debts, and must be repaid in full. Then you have secure debts such as car and mortgage payments. You will continue to pay these but have a plan to extend payment for arrearages. Finally, your unsecure debts like credits cards are the last to receive payments, if at all.

Contact me today to learn more about chapter 13 bankruptcy and the rights that you have!